Somerstone LLC helped facilitate the sale of a 4 acre development site located at the northwest corner of Drexel Avenue and 13th Street in Oak Creek, Wisconsin.
Vortex Pickleball opens in West Bend
Occupying a portion of the former Boston Store in West Bend, Wisconsin, Vortex Pickleball is open for business. Enjoy premium professional-grade courts, social events, and refreshments while connecting with community enthusiasts of all ages. With Highway 45 visibility and its own parking field, the use is an ideal retrofit of the existing space and adds another great leisure resource to the City of West Bend.
Somerstone sells Chase Bank branch
Somerstone is pleased to announce the sale of the Chase Bank branch (ground lease) located in the Fox Run development in Southwest Waukesha. After obtaining an extension of the lease term with JPMorgan Chase, the Somerstone team successfully closed the transaction with a local exchange buyer. The branch has operated from the site since 1983.
Somerstone brokers 1031 exchange
Somerstone is pleased to announce the sale of the Chipotle Mexican Grill on Michigan Road in West Carmel, Indiana. Working with an exchange buyer out of Omaha, NE, the Somerstone team successfully sourced a high-quality asset that aligned well with our client’s equity requirements. With our firm spearheading negotiations, due diligence review and closing, the transaction easily closed within the 1031 timeline.
First Watch is now open in Pewaukee
Somerstone recently completed the two tenant First Watch building in the Shops at Meadow Ridge. Located along Capitol Drive in Pewaukee, the property benefits from excellent visibility and outstanding co-tenancy with other users in the development.
Texas Roadhouse sold in Oak Creek
With the assistance of Mid-America Real Estate Group – Wisconsin, Somerstone directed the sale of the ground lease for a new Texas Roadhouse restaurant in the Highgate development in Oak Creek, Wisconsin.
National retailers open in West Bend
Somerstone is pleased to announce the recent store openings of Dunham’s Sports, Ross Dress for Less, and Old Navy at West Bend Corporate Center in West Bend, Wisconsin. Located immediately west of U.S. Highway 45 on the southwest side of West Bend, the property benefits from exceptional visibility and easy access. Shadow-anchored by a 200,000 square foot, Walmart Supercenter, the property is located within the established Paradise Drive retail corridor. Additional tenants include Chen’s Buffet, We Rock the Spectrum Kid’s Gym, U.S. Cellular, GameStop, Hassleless Mattress, Great Clips, Check into Cash and Subway.
The Den at Fox Run is now leasing
A brand new, 72-unit, multi-family development in Waukesha is now leasing. Featuring luxury amenities including custom Amish real-wood cabinets, keyless door access and underground parking, The Den offers eight attractive floor plans with 1, 2 and 3-bedroom options.
Located in the brand new Fox Run mixed-use development, the Den is ideally located near retail shops, a grocery store, micro-hospital, and more.
Ascension Hospital ground lease sold
Somerstone is pleased to announce the sale of the Ascension Milwaukee Hospital ground lease located in the Fox Run development in Southwest Waukesha. The Somerstone team successfully procured a west coast exchange buyer to purchase the site shortly after the hospital opened.
Somerstone acquires Fox Run Shopping Center
In a joint venture with VJS Development and Bedford Development, Somerstone acquired Fox Run Shopping Center at the northwest corner of W. Sunset Drive and W. St. Paul Avenue in Waukesha in late 2019. The center was home to a large vacant in-line retail strip building, an aging Sentry grocery store, a Chase bank branch and a vacant Denny’s. Working closely with the City of Waukesha, the property is in the process of being redeveloped into a $32M+ mixed-use commercial project that will include a new 72-unit, luxury apartment complex, a ±30,000 square foot, two-story, micro-hospital, and a new Landmark Credit Union branch. One building pad remains for retail/commercial development. Over $4M in infrastructure, utility, landscaping and access improvements has been invested in the high visibility site to capitalize on its location along the well-established and growing Sunset Drive commercial corridor. Project completion is anticipated in 2Q2022.